Welcome to the 68th installment of the Caixin-Sinica Business Brief, a weekly podcast that brings you the most important business stories of the week from China’s top source for business and financial news. Produced by Kaiser Kuo of our Sinica Podcast, it features a business news roundup, plus conversations with Caixin reporters and editors.
- We find out that stocks jumped and the yuan strengthened on Friday after presidents Xi Jinping and Donald Trump had what Trump called “a long and very good conversation” about trade.
- We report that Google Chief Executive Officer Sundar Pichai says the company’s controversial project to develop a search engine for the Chinese market was an “experiment.”
- We hear that President Xi Jinping reaffirmed support for the country’s struggling private enterprises as the government steps up measures to bolster a cooling economy.
- We learn the news that China is set to end the years-old practice of verbal guidance as a way of regulating its stock market, in an effort to reduce trading interventions and create a fairer environment for investors.
- We discuss the fall of Feng Lizhi 冯立志, the former number two of China’s Welfare Lottery system, who is currently being investigated for corruption — the latest in a string of similar cases.
- We analyze China Railway Corp., which recently reported its best-ever performance for the first three quarters, with its normally sizable losses shrinking dramatically as it benefits from national environmental protection policies that are pushing more companies to use rail to transport goods.
- We learn the news that much of North China saw heavy smog this weekend, but officials were eager to deny reports that there had been a slackening of efforts against air pollution.
- We note that Chinese e-commerce giant Alibaba has unveiled its “hotel of the future,” which has robot receptionists and door locks powered by facial recognition.
In addition, we talk with Olivia Ryan and David Kirton, reporters for Caixin Global, about what happened with the Brazil election and what it means for China.
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